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CTS EVENTIM AG (FRA:EVD) CTS Eventim AG & Co. KGaA: Arbitral tribunal affirms the claim for compensation of the joint venture of CTS EVENTIM and Kapsch TrafficCom against the Federal Republic of Germany

Directive transparence : information réglementée

25/03/2022 20:40

DGAP-Ad-hoc: CTS Eventim AG & Co. KGaA / Key word(s): Legal Matter
CTS Eventim AG & Co. KGaA: Arbitral tribunal affirms the claim for compensation of the joint venture of CTS EVENTIM and Kapsch TrafficCom against the Federal Republic of Germany

25-March-2022 / 20:40 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Ad-hoc announcement 

Public disclosure of inside information in accordance with article 17 of Regulation (EU) No. 596/2014 (Market Abuse Regulation)

Arbitral tribunal affirms the claim for compensation of the joint venture of CTS EVENTIM and Kapsch TrafficCom against the Federal Republic of Germany

Munich, 25 March 2022. According to the decision of the competent arbitral tribunal, autoTicket GmbH is entitled to damages and reimbursement of expenses against the Federal Republic of Germany. This is apparent from the interim arbitral award delivered to the contractor parties today.

Following the termination of the operating agreement for the collection of the infrastructure charge ("passenger car toll") in Germany, autoTicket GmbH, the joint venture of CTS Eventim AG Co. KGaA and Kapsch TrafficCom AG, has asserted claims for compensation in the amount of approximately EUR 560 million against the Federal Republic of Germany.

The arbitral tribunal confirmed that the claims asserted by autoTicket GmbH in the arbitration proceedings for compensation of the gross enterprise value and for reimbursement of the costs incurred in the execution of the operating agreement exist on the merits. Accordingly, the Federal Republic of Germany, represented by the German Federal Ministry of Transport and Digital Infrastructure, was not allowed to unilaterally withdraw from the contract without compensation. The arbitral award also rejected poor performance, as alleged by the Federal Republic of Germany, as a reason for termination. The first phase of the two-stage arbitral proceedings has thus been concluded.

In the second phase of the arbitral proceedings that now follows, a decision is made on the amount of the claim.


About CTS EVENTIM
CTS EVENTIM is one of the leading international providers of ticketing services and live entertainment. Before the outbreak of the coronavirus pandemic, around 250 million tickets per annum were marketed using the Company's systems - be it through physical box offices, online, or from mobile terminals. Its online portals operate under brands such as eventim.de, oeticket.com, ticketcorner.ch, ticketone.it, and entradas.com. The EVENTIM Group also includes many concert, tour, and festival promoter companies for events like Rock am Ring, Rock im Park, Hurricane, Southside, and Lucca Summer. In addition, CTS EVENTIM operates some of Europe's most renowned venues, for example the LANXESS Arena in Cologne, the K.B. Hallen in Copenhagen, the Waldbühne in Berlin, and the EVENTIM Apollo in London. CTS Eventim AG & Co. KGaA (ISIN DE 0005470306) has been listed on the stock exchange since 2000 and is currently a member of the MDAX segment. In 2021, against a backdrop of forced closures, cancellations, and restrictions on events as a result of the coronavirus pandemic, the Group generated revenue totalling €407.8 million in more than 20 countries. In 2019, the year before the outbreak of the pandemic, revenue was in excess of €1.4 billion.

 

For further information, please contact:

Head of Corporate Communications:
Frank Brandmaier
Tel.: +49.40.380788.7299
frank.brandmaier@eventim.de

Investor Relations:
Marco Haeckermann
Vice President Corporate Development & Strategy
Tel.: +49.421.3666.270
marco.haeckermann@eventim.de


25-March-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: CTS Eventim AG & Co. KGaA
Rablstr. 26
81669 München
Germany
Phone: 0421/ 3666-0
Fax: 0421/ 3666-290
E-mail: info@eventim.de
Internet: www.eventim.de
ISIN: DE0005470306
WKN: 547030
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1312627

 
End of Announcement DGAP News Service

1312627  25-March-2022 CET/CEST

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